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and northern. >> sure. that's a great question so right now our biggest overweight is in germany, and reason being is all of europe is cheap in different degrees, but germany, when you set monetary policy for the weak link, clearly the southern half of euro, the strong get stronger, and i don't think anyone would disagree that economically speaking germany's in the strongest position of anyone in the eurozone. also, you know, through my background as a bottoms up analyst, for many years, when i look bottoms up at the german index, what i find are terrific companies that compete globally. that's not everywhere in europe, but germany has a lot. the auto sector, chemicals, health care sector, and financials in germany, not so much deutsche bank, but world class companies and world class management teams gives me confidence germany is positioned to do well even within europe. david: chris, we got to run, but quickly, is apple a screaming buy at the prices? >> i think it is. obviously, i'm in the minority recently, but i think investors -- depends if you're a trader, who knows what's going to hap
warned of a possible recession in germany. central bank cutting its growth forecast for the eurozone's biggest economy and that expects growth to reach just 0.4% in 2013. a big cut from previous forecasts of 1% and 1.6%. there's also no political crisis in italy by the way. support has been withdrawn for the group run by monti. berlusconi hinted he may return to politics after stepping down last year. claudia joins us in milan. a number of reports suggested this may not upset investors too much just because we were going to have elections anyway, it doesn't bring it forward a lot earlier. is that the sense that you're getting? >> yes, it doesn't really change in terms of the timing. it just gives you an idea, though, of where berlusconi stands and what the situation is like within that central right next. the pdl has made it clear that there is a serious disagreement within the party. they were set to go forward with some primaries which is what the center left did to elect their candidate. and now that berlusconi has abruptly announced that he's going back, that tells you there is a
markets incidentally, too. bond markets, the fixed income markets, here we're seeing buying in germany at the moment and 10-year german bund around 3%. a little bit of buying into the gild as well as some of the safe haven trades back on. we have this italian bond auction. the first one is going to be settled in 2013 and the last one in this year, as well. it's thought that it is going to see solid demand given that it hasn't gotten any trouble getting off the ground as of late with those bond auctions, as well. a quick wrap on the forex market. here you're looking at selling in the euro/dollar right now. 1.3190. we're flirting with the high level of this trading range that we've been stuck in. dollar/yen, it's thought when this new japanese government coming into place, they're simulating the economy and to make sure a weaker yen is in place, as well. kelly. >> louisa, thanks. we're keeping an eye on gold today. could the precious metal be losing its luster come 2013? we'll find out why kuts has decided to cut exposure to the precious metal for the first time. >>> hello, everybody. we
jobs may stall out at a gm plant in germany. the u.s. automaker is out with plans to stop making its zafiras at its opel division in 2016. gm, however, is considering other options for the factory to stymie job losses. the carmaker is attempting to put the brakes on its losses in europe. the plant shutdown becomes the first for germany since world war ii. italian bond yields headed higher following news that prime minister mario monti plans to resign. monti's reign will come to an end in february, following passage of the 2013 budget. the move raises political concerns over italy in the midst of the eurozone crisis. monti has been credited with keeping italy's debt crisis under control. the japanese economy has some gross domestic problems. japan's gdp has contracted two quarters in a row, signaling it has entered recession. a recent territorial dispute with the chinese government and struggles following last year's tsunami continue to hurt japan's export market. an election next week in japan could have a large effect on fiscal policy. reports say delta is close to landing a deal th
to get the latest news. looking for confidence out of germany's ifo survey. if we can put it up on the screen, that would be a help as i'm working to get it up at the moment. as soon as we get the numbers on that front, i will bring them to you. looks like we're still waiting on that. in the meantime, send in your thoughts, questions and comments about the program to worldwide@cnbc.com. and the biggest news of the morning, we have a deal. after 14 hours of talkes and months of negotiations, an agreement has been reached on a pan european banking supervisor. european finance ministers say they've drawn up plans to allow the ecb to directly supervisor the three largest banks in each country except for the uk and sweden which have both opted out. european leaders need to give their seal of approval and silvia wadhwa is in brussels with the latest. sylvia, it sounds like the meeting went into the late hours of the night. it sounds like the uk and sweden got their way. how significant is this agreement? >> the early hours of the morning. one may wonder whether that's good news for sw
. among those closed include spain and germany. we're start with asia. shanghai composite is the outperformer. you saw up 1.6% there. here is a list of the markets closed across europe. germany, switzerland, germany and austria. for the bourses that are open, we can take a look at performance this morning and then we'll take a look over at the bond wall. the ftse 100 is down about .4%. ibex down .5%. not a clear picture. definitely mixed trade as people look to close out the year. the bond wall gives the sense for what kind of wall dominates. we're seeing bond yields move higher. investors are exiting the asset class today. italy around the 4.5% level. we've seen these predominant for several weeks and likely a quick check on forrus. the yen, an important one to keep an eye on, as well. dollar/yen firmer, continuing the patterns that we've seen over the last couple of trading sessions. for more on what to expect from markets today, we're joined by chris meyer, managing director and chief strategist from loop capital markets. chris, good morning. we wake up without a deal.
processing firms are leading the recovery. >>> and germany's latest exports seems to be recession proof. it's a tradition dating back to the middle ages, but germany's christmas markets are more popular than ever. nbc's andy eckh artson sends this report. >> every december, music rix out across girlny's favorite christmas market. berlin alone hosts more than 80 markets, each with its own character where the sights, sounds and smells of christmas combine to keep your financial crisis at bay. >> we don't feel a crisis. when you look around here at the christmas market, you meet so different people from germany and it's so popular to come to berlin. christmas season is present season. >> over the past 20 years, germany's christmas markets have become a big attraction and big business. analysts estimate that the german christmas market industry brings in billions of dollars annually. for many small businesses and traditional craftsmen, the markets are the main source of income for the year. makia, one of only ten mammoth ivory carvers in germany has seen his annual turnover grow since 2003. eve
. but basically issue selection. within germany the companies have done well, in general it has been an issue selection. ashley: you think of areas being well, europe is not one of them. he mentioned germany, even germany is being dragged down to what is going on in the region as a whole. how do you pick the stocks? you like the multinationals, don't you? >> one thing that we have invested in his multinationals. companies around the world, spain, peril around the world. cars around the world. multinational companies that are doing stuff right in this environment. we think that is the formula, broad-based market and the people that are executing within that. ashley: aren't you concerned about continued volatility in that area? italian elections coming up in february, german elections not far behind that, has to be seen whether angela merkel can survive that. does that give you cause for concern? >> there is no question about that. every election that has happened in the last two or three years, the incumbent has been evicted from office. you can worry about angela merkel, our guess is she is d
to get the latest results from germany's survey any second now. in the meantime, i can can bring you news. for example, on industrial orders and sales in italy, orders flat on the month, down .2 on the month for sales and down nearly 5% on the year. so confirming some of the weakness that we know we've seen previously in the italian economy. meanwhile, another gauge perhaps for the euro as we look to the strength of it lately. that's the current counselor plus which in october was an adjusted 3.9 billion euros, up quite a bit from the 2.5 billion reported for september. now that also comes after -- a day after the european union's report suggesting that in fact the european union would have to run a surplus, given its poor demographics over the next couple of years. now let's get a quick preview of the news. for that we head to patricia, awaiting the results. what do we expect to see? >> reporter: we're expecting the second consecutive month to the upside for the business sentiment next year in germany. november was a surprise after six months to the downside. we expect december to book i
is fascinating bearing in mind where we are in terms of the macro story and germany might well be floating -- >> certainly a big departure in the sense that the german stock market has typically traded in line with the german economy and this is a big divergence. so that's a change. but looking over time, all stocks have the component of what they call the economic return. speculative return which is it for change and the valuation that the market puts on it. over time, one is a possum gain and the other is zero sum gain. sometimes good news, sometimes bad news. but over time the kind of net being nothing. >> we'll see what happens. good to have you on. we'll be out in westminster, joined by the british shadow business secretarier to. we'll talk currencies. find out why one strategist is bullish on the currency. after the ramp up in m&a that we've seen this year, we'll also speak to an expert in los angeles that says the fundamentalses for deal activity in 2013 are looking more solid. so where will the money flow in the new year, that's at 11:20. and the outlook for u.s. credit market appe
. an agreement still seems pretty elusive at this moment. germany and french finance ministers have very different views about oversight of banks. and in britain, the chancellor george osbourne delivers his statement to parliament today. will be out in westminster soon. steve is out to give us more detailed analysis of what to expect. let's just go back to the eurozone. as you say, thin advances here. are we capping -- it's up against the yen as well. there's obviously been a big yen story. >> yeah, i think the euro/yen has had perhaps more to do with eu euro/dollar than anything else. the euro crosses in general have been story rather than euro/dollar and euro/yen at the forefront. i think the euro/yen forecast is overplayed in what japan will ultimately deliver on. but mum is pretty good. i think you still play for a little yen weakness. i think we'll see a lot of people trying to buy yen back because i don't think we'll get delivery in all these preelection promises. >> do we all think we know what the chancellor is going to say? >> judging by the many pages being given to it in the n
won't do particularly well, but germany and italy maybe next year have a potential surprise on the upside. >> how much of a surprise? >> it will not be a fast recovery. the ecb will be forced to do more, but they'll be drald dragged into it. so things will have to get worse before they act. so i don't really think -- >> what more actions? they have a t program waiting to go. what more actions are you talking about? >> the key policy rate for the ecb is likely indeed in the first quarter. they can take dpopt deposit rate negative. by the middle of next year, they'll be doing outright qe. i've been talking about this for ages. they haven't done it so maybe they won't do it. but i'm assuming that the outlook for inflation for the eurozone is -- >> how are they going to get around -- look, i know the bundes bank has a fear of hyper inflation. i just don't -- are they going to get around all the -- because even if they do it on the inflation mandate, are they going to get around the objections about outright money printing? germans would see it as that. >> they would see it as ou
. he is in germany in terms of potential. steven leblanc talking texas in the next fox business exclusive you cannot afford to miss, what is he buying now? should you follow? i always wait until the lt minute. can i still ship gift in me r christmas? yeah, se you can. great. where's your gift? uh... whew. [ male annouer ] break om the holiday stress. ship fedex expreress by decber 22nd for christmas delivery. now we need a little bit more... [ malennouncer ] at humana, we understand the value of quality time and personal attention. which is why we are proud to partner with halth care profesonals who understand the difference that quality time with our members can make... that's a very nice cake! ohh! [ giggles ] [ male announcer ] humana thanks the physicians, nurses, hospitals, pharacists and other health professionals who helped us achieve the highest average star rating among national medicare companies... and become the first and only national medicare advantage company to achieve a 5-star rating for a medicare plan... your efforts result in the quality of care and service w
, 1.63. and bond yields higher. they got kicked higher in germany post that survey which we broke on the show, as well. as far as the currency market, dollar bit under pressure ahead of the fed. euro/dollar 130.08. we were down late friday and early monday trade, as well. dollar/yen, highs polls suggest mr. erbe will be a clear win in japan. however big will the lead be and what influence tell have on the bank of japan. dollar and yen pressured by more q.e. talk. and aussillar three-month high. the prospect of q.e. boosting commodityets. canadian doing well. firm at 1.6122. we have more on the asian trading day out of singapore. >> reporter: hi, thank you, ross. most asian markets finished on a bright note. the shanghai composite recouped morning losses in positive territory. property stocks turned higher in the afternoon. stocks also rallied while investors await beijing's detailed plan on urban development. strengthening main line blue chips pushed the hang seng to a 16-month high. developers, industrials, and gaming stocks among the top gamers today. >>> in japan the country's
cheaper? europe. >> germany and france at two-week highs last week. >> there's a few countries over there. i like the relative value there. they've got a printing press. they're going to open that. what i learned is you don't fight the tape and don't fight a bailout. i've got about 30% off this country -- outside of this country. and added 10% in emerging markets. now i think that we've had a bloodless revolution again in china, i think it's a great place. look at emerging markets. better value while you wait around. >> and they've done well over the last year. it was just they've been the silent gain. you haven't quite realized they've been doing so well. >> i like it. i wouldn't rush into anything. if you hid cash on the side, what a good time getting in. >> this market has stopped reacting on a minute by minute basis to all the prognostications out of washington on the fiscal cliff. what do you make of that? are we becoming complacent? are we immune? what are you talking about on the floor? >> we just had the president speak. nothing there. china numbers tomorrow. then germany. maybe n
for germany, which is a positive and will be a good gain forward. but say order box, very weak. demand, very weak. business confidence very weak and this is going to be hitting activity indicators going forward. >> even though the manufacturing side of it disappointed, the services was stronger. while services is a big part of the economy, it's where we're trying to see the rebalancing in the german economy happen. from that point of view, probably a rather encouraging development. >> it is interesting. it's also very exportwise. what we saw on these numbers was german exports falling sharply again. and this is just signaling that global economic conditions, soft patch very weak, particularly for the region -- i'm sorry, within the eurozone itself. >> and it's consistent with the weakening global demand we're seeing out of japan and other areas this morning. but it's not necessarily -- if you look at the details of what this is telling us across the globe, frankly a point to deceleration in activities. >> and maybe the global economy will continue to expand. they will signal that china is co
have no problem in meeting its financial commitments. only germany and the netherlands have this rate. before the upgrade, greece's rating had fallen to selective default, which meant it failed to pay on one or more of its obligations. now it was pushed upward to b minus. this shows that greece can meet its financial commitments. i spoke to the fellow at the peterson institute for international economics. >> i think was s&p is catching up to is the improved political goodwill in the rest of the euro area towards the greek economy. yesterday, greece got 34 billion euros as a quid pro quo for having implemented a long list of reforms and fiscal austerity. s&p as saying, we expect this money to continue to flow from up euro area. nd we expect thre greek government to continue to implement economic reforms in the future. >> does this upgrade change anything for grece in rea ?ce ter >> the greek exit from the euro area is an extremely unlikely event, precisely for the reason s&p outlined -- that the euro area has politically decided to keep greece in the euro area. this is not something th
there's not much growth to be expected from all europe. you know, obviously core europe like germany will grow with the global economy here. but at the moment, because of the issues in japan and all the issues in the u.s., europe and particularly euro is the one to send out is the strong demand. this is something that european policies and that european companies will need to work with. >> next year, although the eurozone economy is stag nating, we do expect a recovery in the global economy to which europe corporate sector is very well levered. it's that recover in the global back drop which allows margins to rise a little bit in eurozone, gives some type line growth and overall profit growth we think of around 9%. >> standing out in 2013, the biggest uncertainty right now has to do with around the housing market in the united states. some people are increasing their belief that you're going to see growth in the housing market from, you know, previous estimates are like 1.5% to % or even 4%. that is the unknown. because as everybody knows, housing has so many secondary and tertiary e
would be held to account. >> meanwhile, germany plans to send 400 soldiers as well as patriot missiles to turkey, syria's border. >>> d.c. police are trying to figure out what led to a stabbing in front of the australian embassy. this happened just after 10:00 last night on rhode island avenue just near scotts circle in northwest. police tell us a man was stabbed in the side. he was conscious and breathing when rescuers took him to the hospital. there's no word this morning on that man's condition or of any arrest. >>> new this morning, d.c. firefighters are trying to figure out what sparked the flames at this apartment building in southeast washington. the fire started around 1:30 along minnesota avenue. no one was hurt. we're told at least three families had to find another place to sleep. also new this morning, at least one person is in the hospital after a condo fire in alexandria. the flames broke out after midnight inside the building along south washington street. we're told at least one person was taken to the hospital with burns and smoke inhalation. the cause of that fire is
showing weakness. germany's central bank cutting its growth forecast saying german gdp will likely only expand 4% next year down from the previous estimate of 1.6%. >>> california attorney general suing delta air lines distributing the fly mobile app without a privacy policy. first in the state legal action under the online privacy law. >>> india is hoping to open big box retailers like wal-mart. they say foreign companies can own a 51% stake in retailers for the first time. >>> they uncovered a drug smuggling tunnel 39 feet below ground and ran 131 feet and equipped with ventilation and electricity systems. >>> 50 shades of gray, announcing at ceo holiday party, every employee getting a $5,000 bonus to celebrate a profitable year. that is today's speed read. i have time to say that every company should do that. [buzzer] $5,000 for everybody. david: i don't know if we could afford it but i wouldn't mind. thank you, lauren. it is incredibly ironic at the same time the national political scene is getting more liberal with the re-election of president obama, politics at the state level is
to the economy. >> i'm wondering whether germany as we look at -- they're just above sort of recession territory at the moment. i'm wondering whether if they get better growth out of asia, that will offset the weakness that they're seeing in europe enough to keep them above the pencil line. >> what we've seen so far with today's numbers is exports are declining very sharp. they'll need asia and the u.s. to offset some of that demand weakness, but again, the biggest market for most is the euro zone. if the eurozone is performing badly, that will have a thok-on effect for those countries. >> there's a number of strategists saying after the u.s. has sort of led equities for most of the year, they're now saying europe is the place to be. from i think really the question you have to ask yourself is when cash, equities, credit, government bonds, where do you want to be. and equity in my mind mind is absolutely not. you need good growth numbers to justify the equity markets going up. now, i think there's a lot of investors looking at the yields on ghoechlt bonds or credits and that's motivating them to
when they fund german business and the rest of the eu would like to do it and germany won't. seems like a bit of a sticking point to me. >> there are lots of sticking points. first of all, who is going to be the supervisor. for the eurozone, it would be the ecb. but if the ecb is the one big gorilla on the block sitting there in all the meetings so to speak for 17 country, then all the others even if they have their own voice will be slightly sidelined because there's one big power and all the others are split up. so there was a discussion should there be a eurozone supervisor, that doesn't quite work. do we need a some rice or who works for everybody he, where should that sit. brussels, also lots of question marks. and obviously then we get to the point where all the deposit insurances lie. every country has a different scheme. so i think we're a far cry away from having anything like a european banking union. >> i would tend to agree as ever. thank you for now. we'll catch you a little later. how much of this matters? investors say if we move toward a banking union, you can't have any
, not made in germany, not made in china, not made in the u.s. made in the world. 60% of trading manufacturers is in some -- the import content of exports at rate worldwide was 20% years ago, is 40% now and might be 60% 20 years from now. so it's a totally different world from the one many people have in mind where, you know, your country was producing country which my country was consuming and this was a sort of relationship, hands, export this, import that. in this world, the global value changes. you need to import in order to export and use your competitive advantage. so it's a different pattern and i think this has consequences which most governments have, i think, not yet really realized, which is why we've launched this initiative together with the oecd to sort of measure trading at a value and we will probably be unveiling the first batch of trade in value added numbers mid january. our statistical missions are working extremely hard. these guys won't have a great christmas break, but i think that will look very, very, very difference from what we have today. >> just in t
's a union story that tells something about the rebalancing in the eurozone. potentially germany. we know with the xetera dax up .3%. and almost 30% this year. investors see if the euro project hangs together, it's going to mean renation in germany. that is some wage inflation, some price inflation. the public sector union verde, powerful union, along with some others with its contract up at the end of the year is asking, guys, for a 6.5% pay rise next year. it got about 2.5% for the last couple of years. it is on the public sector side but also an example of what kind of pay hikes we may see flowing through to the german economy. if that helps support spending, despite weak industrial production figures and concern about growth prospects, there may be some rebalancing toward the german consumer taking on more of the heavy lifting across the eurozone. so one to keep an eye on, guys. >> thank you very much. we shouldn't see that as the unions pressuring -- they probably are pressuring for higher wages, but there's been pressure on germany to drive more inflation in germany to help lift the
of the most successful year over year appreciations of any developed country's equity markets? >> germany. >> bingo. i think of their own currency it's up like 30%. let's keep going. >> okay. so germany has been the engine of european growth. if germany slows down, the dynamic in europe is going to change dramatically. if this euro/yen goes through let's say 120, 125, 130 which is what they're pushing for, the german auto sector which has made great inroads against the japanese because the euro/yen as the japanese have held the yen has been over valued that is going to change the whole european dynamic. a slowing germany will become a wild card. that's my call for the biggest wild card in 2013. >> i tell you what. you have to go nose to nose with a country on the foreign exchange front, i think the japanese are going to be well matched with the mentality of what is going on in germany. listen, merry christmas. i know hannukah is over and you had a great hannukah. >> thank you. >> best holiday wishes to all the viewership from two old time traders. back to you. >> two of the best that is.
estate in hong kong, and the optics industry in germany? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. executor of efficiency. you can spot an amateur from a mile away... while going shoeless and metal-free in seconds. and you...rent from national. because only national lets you choose any car in the aisle...and go. you can even take a full-size or above, and still pay the mid-size price. now this...will work. [ male announcer ] just like you, business pro. just like you. go national. go like a pro. >>> welcome back. if today's market action is any suggestion of what's to come, where do you put your money now? >> where do you put your money in the final five trading days of the year? >> well, i think you want to position yourself for growth, for global growth. the u.s. is slowing, so you wan
to watch things in europe. the big day is the september 11th elections in germany and germany could be harder after the election. in the first half is the sent ceiling discussion and finally profits, personal income and production, if those can do better than the markets can lift but right now the view is for a nothing market from here till year end. once the seasonal increases go away, we could have tax increases rand spending cuts if we get a deal. why is that going on a headwind for the stock market? >> i think it will be. if the taxes go up, i think that's something that hurts consumer confidence. you've seen the retail sales in the last part of this season here, have sold off, and many people have said it's because of the fiscal cliff. >> kind of depressing when you say it's a nothing market between now and the end of 2013. how do you make money, if you want to see it's going to be a -- >> he knows rhyme going to say buy apple. it's up 20%, up 50% and some off a little bit. if it sells off, you'll have nice dividend stocks like ant anti--sizer, the subplatform of all of the sma
. we believe that the recession in europe is both broadening to countries like germany and deepening in the countries where there are already roadway sessions and, in-- already recessions and, indeed, depression. greece and spain. liz: jeff looks like he's about to damage you. go ahead, jeff. >> are well, you know, they're going to make a deal in washington. i lived inside the beltway, have a pretty good network inside the beltway. cantor is worried -- excuse me, not cantor, boehner is worried about not being reelected as speaker of the house. they can't vote on that until january 4th with the new congress on that. cantor wants that job. so i think boehner's going to press for a deal, i think he's going to go ahead and allow president obama to raise taxes to 39.6%, and i think that'll take the edge off the fiscal cliff. david: let's take this discussion out of the beltway and into the real world. the economy, and, jeff, i want to start with you because you're bullish, but if you're so bullish, hy are you downgrading housing right now? >> because our housing team made a really good c
of gains. big winner? germany's index at levels not seen in five years. investor sentiment in the country rose more than expected. the five year chart, and as you can see, best thing, getting close to the five year level. david: gold coins flying off the shelf, you read about that, trading in spot gold is not following suit. it is down today, a little bit, but when you think of all the progress made by the gold coin sellers, you'd think that would have a pop on the overall price of gold, but not so. liz: under the radar technology etfs that out performed. internet index fund, moving higher, top holdings, google, amazon, and ebay, and the tech fund, ign, top holdings here, you may own them, cisco, qualcom, a gain of more than one point. david: more than a stock market, there's a lot of things today, very interesting lineup of guests, big labor, obviously, about to take a devastating blow in michigan, on the verge of becoming a right-to-work state. the man poised to make it happen, putting pen to paper signing the bill into law. governor rick snider. he's going to be joining us live from th
there really divergent from the rest of europe. germany up on the right, a good gain up over 1%, the italian market falls by 1%. silvio berlusconi is back in italian politics proving he still runs his party and withdrawing support from mario monti. this may lead to midterm elections because monti is market friendly you might not end up with a market friendly solution. we thought we'd have elections march/april, there's the prospect it could be a snap election much earlier perhaps in the new year. now the good news is there isn't a huge amount of blowout on the bonds at the short end of the italian markets. the yields are higher but not huge relative to where we've been but on the ten-year italian market you can see we're slightly higher but no great shakes overall. it means the rally in the peripheral bond market we've witnessed in italy and spain has now stalled at this stage. remember we had the auction in spain yesterday and the yields are slightly higher relative to where we've been, they're still relatively depressed. we talk about the problems in europe, i thought it was worth pointing
or germany but as long as they do business in areas where people are spending money. >> that is a point that is often missed by investors. i have been understandably scared, moving into fixed-income but missing a lot of good return. liz: look at this chart, you will be scared, he has not been scared, talk about the ones you really have in here and you have names like heineken, experience, s&p, a lot here, carnival cruise based in part on u.k. and considered a foreign name. how do you pick a stock in which to invest? you are careful when you do this. >> what we are looking to do is to find long-term secular growth opportunities, the ones that are not so macroeconomics we've driven. we sort of like to call ourselves microeconomists and there are still pockets of growth. data is a great example, the company mentioned is part of the growth in the management of data scores. liz: you like the data and the clout and the u.s. company doing beautifully, telecom, luxury, what names in the luxury, that is my exact criteria? >> you and i could start a company that made high-quality handbags, but we
. forget it, the hell with it. >> i was in munich, germany, this week, talking with business executives, the germans thought we were crazy. only people not watching this charade in u.s. is the french, they are looking to get out of france because of the tax rate there. the they said only thing france will export in 21 century are millionaires. neil: they all go to belgium, it is obviously for more than just the chocolate. so, where do we stand? the markets have been nearly, if not dismissively going by all this and through all this, assuming i think that a teal would be had -- a deal would be had. tomorrow it looks like a deal will not be had, the they -- mas have turned sharply lower, 74 down in the futures. i am wondering, if that is a signal they could worry this is not a fore gone conclusion, we could go into the new year with no deal. >> i'm thinking, increasingly, that sequestration and going into the new year without a deal is the best possible thing for the u.s., it is the only way you will see spending decreases. you will get revenue increase on top. but hopefully, they will be
by better than seven points and the nasdaq futures up, as well, by about 17. european shares rising. germany is up, the ftse is up, the france, the cac in france has turned slightly down. but, again, this is a marginal loss of about three points. most of the major asian stock markets were higher overnight. and among the catalyst here, signs that china's recovery is gaining traction. sources say that the bank of japan will ease monetary policy this week and consider adopting a 2% inflation target no later than january. policymakers are seen responding to pressure from the incoming prime minister there. shinzo abe for stronger efforts to beat deflation. in the meantime, india's central bank kept interest rates on hold yesterday ignoring pressure to reduce borrowing costs. policymakers said they were shifting the focus to reducing the economy and that raises the odds of a rate cut as early as january. andrew olson, over to you. >> ubs reportedly nearing a fine of up to $1.5 billion. the bank is close to finalizing a deal with regulators according to the financial times. about three dozen banker
call. asia was up 13. europe was up 12. adding employees to europe, france, germany, very strong. similar to what bill mcdermott has been saying. we are all so doom and gloom about europe, ellison's talking about it's a bright spot. >> what about germany today, up again for december, as we mentioned at the top of the show, above $1.33 a day. something's going on there. the big upgrade on greece. that's kind of strange, right? >> up four or five notches. >> i have to stand up for a second. $8. >> is it finally time? >> i want to click my heels, but these are soft reeboks. you wouldn't hear it. >> are we going to see that, finally, at last? >> the way people were coming on and saying it's going to zero. >> running for the exit. >> when was the euro dissolved and greece kicked out? what was the date? >> it happened just in reverse. >> it was overnight. >> we'll see. i can't believe 2013 will not hold a couple of moments where we go, ah. but it is amazing. nothing we can do. >> we're afraid spain is going to come -- spain was supposed to come to market. italy, oh, my, what happens wh
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germany -- germany. adam: i ran to the studio. lori: well, states tell the obama administration whether they plan to build and operate their own health insurance exchanges or default and that the federal government do it. so far it looks like -- lori: adam: where are the long lines, frenzied crowds? iphone five made there debut in china, but to a been there done that response. take a look at metal as we head to break. ♪ [ male announcer ] this is amy. amy likes to invest in the market. she also likes to ride her bike. she knows the potential for making or losing money can pop up anytime. that's why she trades with the leader in mobile trading. so she's always ready to take action, no matter how wily... or weird... or wonderfully the market's behaving... which isn't rocket science. it just common sense. from td ameritrade. it just common sense. music is a universal language. but when i was in an accident... i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. information on my phone. connection to doctors who get where i'
. and in germany, merkel is not ruling out the possibility of notifying greece some of its debt once athens finances are in better shape. angela merkel told a german tabloid that the question of the so-called haircut can be revisited. in the past, merkel's government had ruled out forgiving any debt. >> in corporate new, ubs is reportedly close to a settlement. the "new york times" says the swiss bank is expected to pay horn $450 million over claims that some of its employees submitted false libor rates. that's pretty huge story and we will take a look and ten to see what happens with this. also morgan stanley trader is under investigation by cme regulators over trades and treasury futures four years ago. at the time he was employed by goldman sachs. he's now head of global interest rates products at morgan stanley. the probe is aimed at establishing whether hadden's late trades hat manipulate closing prices and made other trades more profitable. also singapore airline says that it is in talks with interested parties to sell its 49% stake in virgin atlantic. delta is reportedly among the po
. greece unveiling that $10 billion eurobond buyback. a 52-week high in france and germany. our road map this morning begins in washington where fiscal cliff negotiations according to the "times" has "collapsed." at least for now. with less than a month until the deadline, who blinks first if anyone? >> goldman takes dell from a strength to a buy. is it time to look at the stock and maybe even other players in the beat up personal computer sector? >> manufacturing data out of china. not bad. 50.6. that's the highest in seven months. although shanghai again trades lower even europe's pmi improves a touch in november. first up, we're one month away from the fiscal cliff and so far the white house and congressional republicans are still in disagreement over how to reduce the deficit and avoid a raft of tax hikes and spending cuts. yesterday our own jim cramer and maria bartiromo were on "meet the press" and cramer had a message for fellow panelists and father of the anti-tax pledge, grover norquist. >> most ceos are republican. they're on board. they're not on board with you. they're not on
you see what's been going on in germany? they came out and acknowledged there was a possibility of a recession early next year in germany. that's a real concern right now after germany has a new 52-week high in stocks. you'll have strong headwinds in december and january for the german market. they are talking about growth of 0.4% next year for germany gdp. it was 1.6%, guys, just six months ago. that's a pretty severe downgrade. back to you. >> wae'll see you later. as we said earlier this morning, u.s. job growth picked up in november with nonfarm payroll increasing and unemployment rate falling to 7.7%. the lowest level since december 2008. joining us from the white house this morning for our first on cnbc interview is alan krueger, chairman of the council of economic advisers. good morning. >> good morning. >> as residents of the northeastern united states, a lot of us are still trying to get our heads around the idea that sandy didn't affect these numbers at all. are we almost certain to get some major revisions next month? >> the bureau of labor statistics reported that th
at germany. a lot of -- >> hong kong, germany, you name it. >> germany up 29% year-to-date. that has a lot to do with the ucb and the eurozone. this is a relative gain. lost in this conversation for a lot of u.s. investors, they are u.s. investors. they can't really invest globally to the same degree that we talk about, we say germany is up 29%, for a lot of investors that's out of their reach. >> if we didn't have the cliff today, we would have best trades of the year, jamie dimon buying jpmorgan when the whale hit. things looked really dark. some of the best trades happened obviously when it looked like the stocks were in for real trouble. >> look at the greek stock market. look at greek debt. i think it was third point that established a prominent position in greek debt and saw x number of returns thereafter. >> draw the lessons to today. as we teeter on the cliff, what would be the fear trade that people are shunning right now but may turn out to be the best trade looking back? >> i think it's something we already mentioned, and that's the defense sector. >> the sequestration sector is
consumer supercold, industrials in particular would like. but even spread out into places like germany, china, emerging market that we have been buying the last couple of months. liz: chin steve has a china plae don't want to miss. 30 billion in assets under management. he is working his money, trust us. the closing belllin 50 minutes. a fall off the fiscal cliff will derail the programs helping the hosing recover. for the homebuilders worried? toll brothers is the 800-pound gorilla, they would know. a fox business exclusive with dogeared leaflets which tell you if the recovery in housing is here to stay and it matters to a whole host of stocks and what the fiscal fall could do to his business. only here on fbn. and we n save you 10% on ground shipping over the ups store. look this isn't my first christmas. these deals all seem great at the time... but later... [ shirt ] merry christmas, everybody! not so much. ho ho ho! this isn't that kind of deal. [ male announcer ] break from the holiday stress. save on ground spping at fedex office. to the number 1 club in the world. the potential
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growth pick up in the united states and britain. the agency is expecting weak growth ahead for germany and france. >>> pay for presidents of private colleges rose from the year prior. the president of the new school is the highest paid in the country. that is right here in new york city at more than $3 million. >>> national hockey league is canceling its regular season through december 30th, i know, due to lack of collective bargaining agreement. 526 games, more than 40% of the season has been canceled. that unfortunately is that [buzzer] that is end of today's speed read. liz: it is disgusting. it is horrifying. we don't seem to be any closer to a resolution on the fiscal cliff even though many are warning that the economy could face dire consequences if there is no agreement but one strategist says, why are you worrying about december 31st? that deadline isn't even the real fiscal cliff. david: that strategist is none other than peter schiff, ceo of europacific precious metals. friend of the show. peter, although i wish it was under better circumstances. you say the real cliff coming
actually ended up looking pretty darn good. germany up 30%. i mean, i look at that, and i say all of the fear that was out there including the euro stocks, 600 did unbelievably beautifully. and you say, my goodness, if you went toward the worst, most fearsome place, europe, you would have done way better than here in the u.s.. >> yeah, absolutely. well, it's like everything that happens in nature as well as the markets and the equity markets. when things get stretched too far one way, they will come back to a happy medium. we saw that in the equity markets this year. they were the best performing asset classes of all the places you could put your money, and it's not without knowing what's going on when you had unprecedented types of money flows coming from central banks around the globe, that money had to go somewhere. the u.s. market has performed very well. by the time we get done today, especially on the fiscal cliff talks, we're going to be up about 14% in the s&p 500. the leaders in that were, of course, financials, tech and consumer discretionary. they performed very, very w
-800-345-2550 this morning, i'm going to trade in hong kong. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#: 1-800-345-2550 with the new global account from schwab, tdd#: 1-800-345-2550 i hunt down opportunities around the world tdd#: 1-800-345-2550 as if i'm right there. tdd#: 1-800-345-2550 and i'm in total control because i can trade tdd#: 1-800-345-2550 directly online in 12 markets in their local currencies. tdd#: 1-800-345-2550 i use their global research to get an edge. tdd#: 1-800-345-2550 their equity ratings show me how schwab tdd#: 1-800-345-2550 rates specific foreign stocks tdd#: 1-800-345-2550 based on things like fundamentals, momentum and risk. tdd#: 1-800-345-2550 and i also have access to independent tdd#: 1-800-345-2550 firms like ned davis research tdd#: 1-800-345-2550 and economist intelligence unit. tdd#: 1-800-345-2550 plus, i can talk to their global specialists 24/7. tdd#: 1-800-345-2550 and trade in my global account commission-free tdd#: 1-800-345-2550 through march 2013. tdd#: 1-800-345-2550 be
at this hour, there they, they're all down. not great in france, but germany down about .7% and the ftse down fractionally. other news out of europe, debt tieback for from an day to receive additional buyback offers. those would be at deeply discounted prices and that would help lower the country's debt lead. >>> in asia, stocks touched a 16-month high and closed mostly higher on the session with good gains, as you can see, with the kospi up the most, 1.5 points. >> strong nebs out of china which suggest maybe the economy is rebounding more than expected. >> the exports. >> yeah. >> among the catalyst in asia trading today, economic stats out of china. export growths slowed sharply to 2.9% in december. that news j underscores the global headwinds dragging on the economy. but the chinese economy is showing solid signs of a pick up in domestic activity. industrial output was stronger than expected. the country has been saying for years it needs to shift a little bit from the export model the internal consumption. let their middle class grow and not be nearly as dependent on exports. and china's
. so we feel very good about france. ditto germany. >> isn't that incredible. >> rick, 52-week high when compared to avon. incredible. thank you so much for joining us. >> good to be here. >> good to see you. >> all right. stay tuned. sfx- "sounds of african drum and flute" look who's back. again? it's embarrassing it's embarrassing! we can see you carl. we can totally see you. come on you're better than this...all that prowling around. yeah, you're the king of the jungle. have you thought about going vegan carl? hahaha!! you know folks who save hundreds of dollars by switching to geico sure are happy. how happy are they jimmy? happier than antelope with night-vision goggles. nice! get happy. get geico. >>> trip adviser and deutsche bank. >> deutsche bank likes this company. people love it. trip adviser is king. >> deutsche buying a hold on apache. >> apache has been such a dog. bad for apache. >> an a darko? >> ever since the daily, and other litigation, this is an inexpensive stock. i-like it. >> deutsche on omc. >> what's interesting, they're talking about negative momentum in ad
. spain was borrowing at 7%. >> germany went to the five-year high. we could have that, too. unlike them, our economy is not in tatters. they go five-year high on tatters. audi, good car. >> yes. good car. >> meantime, shares of costco this morning up in the premarket. warehouse retailer earned 95 cents a share in the first fiscal quarter. revenue, profit margins beating forecasts helped by rising sales. those higher membership fees did hike fees a year ago november, which doesn't happen very often. the journal today says, model looks great. the business is great. the stock is just -- people want to pay a lot of money for it, jim. >> oh, yeah, costco, those are remarkable numbers. i know you did an excellent special on coastco and it seems like the execution was impressive. people want to go there. >> as gas prices come down, that helps them, given they make it a bit of a loss leader. valuation rich for your blood. >> when you go to buy a house, you see kirkland more than any other brand. you can say, jim, that's not even -- i mean, what percent -- i am a real fan customer for kirkland.
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